ORLANDO, Fla.--(BUSINESS WIRE)--Online shopping behavior on Thanksgiving Day was significantly different from the rest of November, according to Channel Intelligence (CI). Buying activity in the United States started strong early in the day and then tapered off throughout the afternoon.
CI reports that during the first part of November, there were consistently large spikes in online purchases from 8 a.m. to 10 a.m., noon to 12:30 p.m., and 3 p.m. to 3:30 p.m. local time. On Thanksgiving Day, however, an online buying surge started at 6 a.m. local time and continued until 10:30 a.m. There was a gradual decline in buying from 10:30 a.m. to 7 p.m., followed by a cliff-like drop-off at 7 p.m.
Conversion rates on Thanksgiving were up 75 percent between 8 a.m. and 6 p.m. compared to average conversion rates during the same time period from Nov. 1 through 23.
CEO Rob Wight said that in the early hours of Black Friday, CI saw another enormous buying surge.
“Shortly after midnight, we noticed a significant jump in online orders,” said Wight. “In the first hour of Black Friday, from midnight to 1 a.m., our systems recorded transactions equal to nearly half of all the orders recorded in the entire day on Thanksgiving.”
Channel Intelligence is the leading provider of technology services that drive online purchases, and the company’s software handles about 14 percent of all online commerce in the United States. CI will continue to report on e-commerce activity throughout the holiday season.
About Channel Intelligence (CI)
Relied on by leading companies such as Best Buy, Target, Neiman Marcus, HP, Philips and Kimberly-Clark, Channel Intelligence (CI) helps manufacturers, retailers and agencies sell more products and outperform online. Founded in 1999, CI now tracks nearly 15 percent of online transactions in the United States and drives $2B annually in referred sales for their partner companies within computing, home improvement, appliances, consumer electronics, toys and a variety of other consumer packaged goods. The company’s leading CI Boost services suite includes: Where-to-Buy, Product Search, Paid Search, Shopping Engines, and Marketplaces. CI is a multinational e-commerce company with offices in Orlando, Fla., Scottsdale, Ariz., Portland, Ore., London and Shanghai. CI is a partner company of ICG (Nasdaq: ICGE) and Aweida Capital Management. Learn more at www.channelintelligence.com.